Cryptocurrency, a specific branch of digital currency, has grown at a significant pace in recent years. Bitcoin is the most notable cryptocurrency out in the wild, but different companies and entities use varying forms of digital assets in different ways. Voxelus, a virtual creative platform, is exchanging equity stake in the company for a percentage of the app’s voxel cryptocurrency already in the market.
“We believe firmly in the future of our VR token, the Voxel, but we wanted to give those who share our vision another way to participate in the success of the company,” says Voxelus Inc CEO Martin Repetto, in a prepared statement. “We have decided to provide this one-time option for Voxels holders to convert their coins into equity in the company. This should increase the scarcity of the outstanding Voxels as demand rises in the marketplace. It also allows anyone to take advantage of the opportunity to own equity in a promising VR platform at an attractive valuation.”
In Voxelus, users can sell the virtual assets that have been created and shared in the program’s simplified and welcoming interface for the voxel currency. That currency can then be withdrawn and exchanged on different markets for various types of digital currency or changed into their local currency, and this move by Voxelus Inc is just another option for the users. This particular option, though, will help to reinvest in the already growing platform.
“We will use these funds to build upon our early leadership in the VR content sector,” says Repetto. “We have a number of new technical initiatives that will further enhance our already stellar user interface, as well as branded content deals, teed up to be announced in the coming weeks and months..”
The exchange is scheduled to go live in the first quarter of 2017 at a set rate of 1.058% of Voxelus Inc for every 1 million voxels.
